Project Overview

The Laboum licence area was selected due to the presence of a major regional shear zone, which in places is up to 5km wide and coincident with numerous gold anomalies as defined by the Bureau de Recherches Geologiques et Mines ("BRGM") in the 1990s. Historical mapping by the Company has a defined a 20km long zone of gold bearing streams and the presence of artisanal alluvial gold workings. The Company is in the process of undertaking a detailed soil sampling programme and concurrent high resolution ground magnetic survey along the gold mineralised portion of the shear zone.

17km long gold belt

Large regional gold-in-soil anomaly

Geophysical targets

Exploration Programme

Following positive results from a 128 line km Phase 1 ground magnetics survey completed by the Comany in 2016, a 900 line km Phase 2 ground magnetics survey commenced in Q4 2016 and is expected to finish in the second half of 2017. The geophsyical survey lines are being walked at 50m intervals perpendicular to the regional NE-trending Tchollire-Banyo shear zone, and the results are providing a high resolution dataset on the numerous structures within and across the Laboum licence.

A concurrent 218 line km infill soil sampling programme is also being undertaken, with Auramin’s field teams collecting samples at 50m spaced intervals along 100m spaced lines. The infill soil programme extends and enhances the Company’s existing regional soil grid, where 2,200 samples were collected on 100m intervals along 400m spaced lines, that generated five key gold targets. The results from the soil sampling programme to date indicate that the gold mineralisation is coincident with major silicified units and shear structures over at least 13.5km of strike and across a number of parallel zones.

Rock chip samples of sheared metasediments have returned grades up to 6.85 g/t, while visible gold has also been identified within a panned concentrate of a sample collected from a reconnaissance trench, indicating the high prospectivity of the project area.

Geological mapping has recently identified significant zones of quartz veining, occasionally with visible sulphide minerals, and these zones are up to 25m wide with strike lengths in excess of 150m each.